Xiaomi Q1 results: 30M phones sold, 600M active users reached

Yordan, 26 May 2023

Xiaomi posted its financial report for Q1 2023, and the numbers look promising for the Chinese manufacturer that is about to join the EV game as well. The company had 594.8 million monthly active users between January and March 2023, and it managed to reach the 600 million milestone by the time the announcement was published.

The smartphone business reached CNY 35B (just under $5 billion) in revenue, shipping 30.4 million devices. The ASP was CNY 1,152 ($163), increasing 2.7% over the previous quarter.

Xiaomi ranked third in Q1 2023 with a market share of 11.3%, but the front-runners Apple and Samsung shipped almost twice the number of phones each between January and March.

At its home market, the company improved by 22.2% QoQ in terms of units sold, but vivo managed to surpass it, pushing Xiaomi fourth; Apple was first, and Oppo came second.

Xiaomi Q1 Results Xiaomi Q1 Results Xiaomi Q1 Results
Xiaomi Q1 results

The total revenue was CNY59.5B ($8.43B), and the adjusted net profit was CNY 3.2B ($450 million), but if we include expenses related to the smart EV business, the number was actually CNY 1.1B ($150 million).

Xiaomi Q1 Results Xiaomi Q1 Results
Xiaomi Q1 Results

Xiaomi is a company that also invests in AIoT - the number of connected devices increased to 618 million, with 12.3 million users having 5 or more such devices. Revenue from smart large home appliances, such as fridges, air conditioners, and washing machines, increased 60% YoY. 2.8 million TVs were shipped, bringing Xiaomi among the Top 5 companies for Smart TVs.

We also learned Xiaomi is planning to reduce greenhouse gas emissions by at least 70% by 2030 and 98% by 2040, setting a pathway for achieving net zero emissions.



Reader comments

Ah, it's the Xiaomi fanboy bashing other brands and only supporting Xiaomi. No wonder I always see them around phone opinion sections.

  • Anonymous
  • 05 Jun 2023
  • mt4

Sure budy, keep hating Samsung and keep spreading BS lies about their phones being useless. You and others who hate their phones are stuck in 2015 or something. Compared to Samsung, which produces their phones 100%, Xiaomi only uses components from o...

  • patel
  • 29 May 2023
  • 0Vx

The cheaper devices have several years of miui updates, so the system is updated even if the Android version is only upgrade once. Your statement isn't correct

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